Block cheese closed at $1.5100/lb, up $0.0050/lb with 3 trades
Barrel cheese closed at $1.4875/lb, down $0.0050/lb with 1 trade
Butter closed at $1.4100/lb, up $0.0500/lb with 7 trades
Grade A NDM closed at $1.3350/lb, up $0.0100/lb with no trades
Extra Grade NDM closed at $1.2700/lb, unchanged with no trades
Category: From the Trading Floor
CEC Entertainment Profit Up 28%
Big Cheese Celebrates Fonterra's Inroads Into Huge Market
IDFA Announces New International Dairy Show
Category: Headlines
Dairy cow slaughter for the week ending October 17 was 50,644 head, down 0.5% from the same week last year.
This puts slaughter up 243,000 head year-over-year, YTD through week 42.
Category: Flashes
Block cheddar cheese closed at $1.5050/lb, up $0.0050/lb with 8 trades.
Barrel cheese closed at $1.4925/lb, unchanged with no trades.
Butter closed at $1.3600/lb, up $0.0100/lb with 3 trades.
Grade A and Extra Grade NDM were unchanged at $1.3250/lb and $1.2700/lb, respectively, with no trades.
Category: From the Trading Floor
Category: Headlines
Positive feelings stirred up by the uptick in home values as measured by the Case-Shiller Home Price Index were countered with today's release of "new home sales" data. Sales for September came in at an annualized rate of 402,000 units, well below expectations for something in the 440,000 unit neighborhood.
Wall Street's mood was also soured by disappointing numbers in the Conference Board Consumer Confidence survey. The reading came in at 47.7 compared to expectations in the 54.0 area. Consumers are not feeling especially buoyant. And, the don't exactly figure that Washington has the answers. Polling data published in The Wall Street Journal today revealed that:
Just 23% said they trust Washington to do what is right most of the time or just about always, a level not seen since 1997, 1995 and before that 1982, the last time unemployment reached the current level.
The road to sustained, broad economic recovery still seems uphill.
Category: The Economy
Block cheese closed at $1.5000/lb, unchanged with no trades.
Barrel cheese closed at $1.4925/lb, unchanged with no trades.
Butter closed at $1.3500/lb, unchanged with 2 trades.
Grade A NDM closed at $1.3250/lb, unchanged with no trades.
Extra Grade NDM closed at $1.2700/lb, unchanged with no trades.
Category: From the Trading Floor
Dairy Farmers Tell Lawmakers of Crisis
Stressed Peurto Rican Cows Give Less Milk, Force Imports
IDFA Chairman Tells Senate Now is Time for New Dairy Policies
Idaho Dairy Counties Weathering Recession
Fonterra Expands Investment in Malaysia
Washington, Oregon Advocate More USDA Purchases of Dairy Products
Category: Headlines
Finding a measure of stability in the housing sector has been viewed as critical to halting economic decline and pouring a foundation for some measure of recovery. By now the evidence for bottoming and mild housing market recovery is pretty convincing. It was informed by the latest Case-Schiller Index data on prices published this morning. Home prices were up 1.2% in the major metropolitan regions covered by the survey, making it four months of upward movement in a row.
The $8,000 first-time-buyer home credit may be playing a role in boosting the housing market's fortunes. Some figure it is one of the few pieces of government stimulus programs that is actually producing tangible results. In an editorial today, however, The New York Times opines that the home credit is too narrowly focused and only helps with activity that would have happened anyway. This is not to say that the Times is anti-stimulus. Anything but: the editorial calls for more government stimulus, hewing to a line of thinking regularly advanced by the paper's Paul Krugman:
Without another round of effective stimulus, the worst recession in modern memory will likely become — at best — the weakest recovery in modern memory. Another boost to federal spending that is targeted and timely should not be too much for politicians to deliver.
Category: The Economy
Block cheese closed at $1.5000/lb, unchanged with no trades
Barrel cheese closed at $1.4925/lb, unchanged with no trades
Butter closed at $1.3500/lb, unchanged with one trade
Grade A NDM closed at $1.3250/lb, unchanged with no trades
Extra Grade NDM closed at $1.2700/lb, unchanged with no trades
Category: From the Trading Floor
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